Monthly Archives: March 2012
In The Lead – A Little (More) Trouble in Big China
A raft of unfriendly macroeconomic news from China and from the EU sent gold prices to prices not seen since mid-January on Thursday as the metal's bears gained the upper hand once again in the market with a push to the oft-watched 61.8% Fibonacci retracement level (in this case at the $1,627 mark per ounce).
The principal catalyst for the fresh decline in precious metals that we witnessed yesterday was the quite poor showing in China's HSBC flash manufacturing index. However, commodities as a group also [...]
2012 Australian Olympic Team Coins Available in Gold, Silver and Bronze
Minting facilities from around the world are creating and releasing coins commemorating the upcoming 2012 Olympic Games to be held in London. The Perth Mint of Australia is no exception and has released 2012 Australian Olympic Team Coins in gold, silver and bronze.
Olympic Games were originally held in Olympia, Greece and began in the 8th century BC and continued through the 5th century AD. However, the first modern Games were not held until 1896 at which time only 14 nations participated with only 241 athletes competing in just 43 events [...]
Gold Drops to 9-Week Low, Palladium Prices Plunge 5.5%
Gold returned to negative territory Thursday with a loss of 0.5% after edging 0.2% higher on Wednesday. Gold and other precious metals were pressured as the U.S. dollar gained on global growth jitters brought on by weaker manufacturing data out of China and the European Union.
Gold prices settled down $7.80 to $1,642.50 an ounce in the April futures contract on the Comex in New York. The settlement price was the lowest for the yellow metal since [...]
New 2012 Presidential $1 Coin Products, Arthur Dollar Scheduled
Confirming a public notice released in January, the United States Mint on Wednesday announced four new Presidential $1 coin products and also revealed an April 5, 2012 release date for rolls of Chester A. Arthur Presidential dollars.
The product news carries extra weight this year since it is the first in which Presidential $1 coins will not be released into circulation and available from local banks. This is due to an order from the Treasury Department which terminated $1 coin production for all but numismatic purposes [...]
US Mint Cuts Prices on 2012 Kennedy Halves, Bronze Medals
Collectors will pay less for several upcoming United States Mint products, including rolls of 2012 Kennedy halves, national bronze medals and the 2012 First Spouse Bronze Medal Set.
The latest cuts follow other 2012-dated numismatic products that will be available at lower prices this year which include several sets, America the Beautiful Quarters and Presidential $1 Coins [...]
Gold Prices Rise Slightly, Silver Returns to Above $32
Gold prices edged 0.2% higher in light trading Wednesday after dropping 1.2% in the previous session. No particular incentives were provided by analysts for its gain, other than bargain hunting.
Gold prices added $3.30 to $1,650.30 an ounce in the April futures contract on the Comex in New York. Gold moved between an intraday low and high of [...]
US Mint Sales: Birth Sets, Buffalo Gold Debuts Fail to Ignite...
Two new products debuted on the U.S. Mint's lineup last week but they failed to spark any significant buying across other offerings according to the latest sales stats from the bureau. 24 numismatic products outperformed their previous weekly sales as compared to the 48 noted in the prior sales report.
As one of the Mint's debuting products was composed of more expensive gold and the other designed singularly for newborns, it makes sense that overall sales were weaker compared to the previous week when the Star-Spangled Banner commemorative coins made their first sales appearance [...]
In The Lead – Ben Rattles Ron’s Gilded Cage
Gold prices fell towards the $1,645 level at the opening of the midweek session in New York as the US dollar climbed slightly on the trade-weighted index (it was last quoted at 79.70).
The initial action was rather subdued but, after yesterday's additional 1% decline in values to fresh two-month lows, speculators were perhaps justifiably skittish about jumping into the "pits" with both feet, especially as talk continued about lackluster physical gold demand, the continued "absenteeism" by Indian jewellers, and the perception that, ever since the hopes for additional Fed stimulus have been recently dealt a blow, fund liquidations in bullion have been visible while retail investment has not. Gold trading activity on the [...]
2012 American Buffalo Gold Proof Coin Sales Debut at $8 Million
The United States Mint began selling the 2012-W $50 American Buffalo Gold Proof Coin on Thursday, March 15. By Monday, March 19, its sales debut hit $8,055,600 as collectors ordered 4,110 coins.
Fewer of this year's Buffalos were purchased during its opening sales days than in past years, but that could be the result of collectors staying on the sidelines. Debut sales were bottled to some degree as the 99.99% fine gold coin launched [...]
Gold Falls 1.2%, Silver Tumbles 3.4% to Below $32
U.S. stocks and commodities, including gold and other precious metals, fell Tuesday as fresh concerns about global growth worried investors. Those worries were sparked by economic news out of China on a potential weakening in auto sales, falling home prices, and on slowing steel production.
Gold prices fell $20.30, or 1.2%, to $1,647.00 an ounce in the April futures contract on the Comex in New York. Gold was also said to be pressured by [...]